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Govt monitors imports to boost consumption of domestic steel: Dharmendra Pradhan

Govt monitors imports to boost consumption of domestic steel: Dharmendra Pradhan


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Published on date 11th February 2020.


New Delhi: The Union Minister for Steel, Dharmendra Pradhan stated in the Lok Sabha today that the Government has taken several measures in order to minimize import of steel. He stated that Domestically Manufactured Iron and Steel Products Policy (DMI&SP) has been notified with an objective to encourage consumption of domestically produced steel by Government organisations.


To meet the domestic demand for high-performance steel, the Government is facilitating R&D in the sector through the establishment of the Steel Research and Technology Mission of India (SRTMI).


The Ministry is addressing the issue of quality of steel products that are produced as well as block import of sub-standard steel. It has notified Steel and Steel Products Quality Control (QC) Orders. Further, to prevent import due to unfair trade, the government has imposed Anti-Dumping Duty on a number of steel products imports.The government has notified the Steel Scrap Recycling Policy to reduce dependence on imported steel scrap.


Moreover, the Government has recently introduced Steel Imports Monitoring System (SIMS) to monitor steel imports. Import duties on basic raw materials used by the steel industry, such as coking coal, ferro-scrap, iron ore and ferroalloys is at a lower level. This information was given by the Union Minister for Steel Dharmendra Pradhan in a written reply in the Lok Sabha today.


 


Source : https://indusdictum.com/


 





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